The Daily Docket: Revel Seeks More Breathing Room in Sale

03/17/15
This photo taken on Oct. 17, 2012, shows the exterior of the former Revel Casino Hotel in Atlantic City N.J. ACR Energy Partners had told Revel’s owners it would cut off service to the building at 5 p.m. Thursday, Feb. 5, 2015, over unpaid bills. But the company and the casino agreed Thursday morning to keep the power and water flowing until a hearing Feb. 11. (AP Photo/Wayne Parry)
Wayne Parry/Associated Press

Atlantic City’s Revel Casino Hotel on Monday asked a bankruptcy judge for more breathing room in a bid move forward with a sale after the judge said she couldn’t sign off on a heavily discounted $82 million deal to Glenn Straub, a Florida-based developer. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

A federal judge on Monday added an extra 6% to the $101 million jury award against Renco Corp. and company owner, billionaire Ira Rennert, to account for nearly 14 years of missed interest payments on debt tied to the company’s bankrupt magnesium mining subsidiary, DBR (sub. req.) reports.

Altegrity Inc. won court approval Monday for financing and a deal with certain lenders designed to preserve some of its business and see it out of bankruptcy, DBR reports in WSJ.

A bankruptcy judge said Caesars Entertainment Corp. can get rid of contracts with the Kansas City Chiefs and others, the Associated Press reports.

According to WSJ, the family of a woman whose death helped trigger ignition-switch recalls at General Motors Co. made a settlement for with than $5 million.

Freedom Industries ex-owner William Tis pleaded guilty to Clean Water Act violations, the AP reports.

Eastman Kodak Co.’s fourth-quarter loss narrowed from a year earlier, WSJ reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa

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